IonQ, Inc. (NYSE:IONQ) CFO Thomas G. Kramer Sells 47,478 Shares

IonQ, Inc. (NYSE:IONQ - Get Free Report) CFO Thomas G. Kramer sold 47,478 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $47.70, for a total value of $2,264,700.60. Following the completion of the sale, the chief financial officer owned 555,656 shares in the company, valued at approximately $26,504,791.20. This trade represents a 7.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

IonQ Trading Up 1.5%

IonQ stock traded up $0.67 during trading hours on Thursday, reaching $43.95. 17,815,910 shares of the stock were exchanged, compared to its average volume of 23,269,344. The stock has a 50 day moving average of $41.31 and a two-hundred day moving average of $34.08. The company has a market cap of $11.50 billion, a P/E ratio of -29.49 and a beta of 2.55. IonQ, Inc. has a twelve month low of $6.22 and a twelve month high of $54.74.

IonQ (NYSE:IONQ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.28) by $0.14. The company had revenue of $7.57 million for the quarter, compared to analyst estimates of $7.51 million. IonQ had a negative return on equity of 63.35% and a negative net margin of 753.20%. The company's revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.19) EPS. On average, analysts expect that IonQ, Inc. will post -0.86 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IONQ has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on IonQ in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $45.00 target price on the stock. DA Davidson reduced their price target on IonQ from $50.00 to $35.00 and set a "buy" rating for the company in a report on Monday, April 14th. Morgan Stanley increased their price objective on shares of IonQ from $29.00 to $30.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Needham & Company LLC restated a "buy" rating and issued a $50.00 price target on shares of IonQ in a research note on Wednesday, June 11th. Finally, Benchmark boosted their price objective on shares of IonQ from $50.00 to $55.00 and gave the company a "buy" rating in a report on Monday, July 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.43.

Institutional Trading of IonQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. Xponance Inc. increased its stake in shares of IonQ by 11.9% in the fourth quarter. Xponance Inc. now owns 14,806 shares of the company's stock valued at $618,000 after buying an additional 1,569 shares during the period. Sei Investments Co. acquired a new stake in IonQ during the 4th quarter worth approximately $1,255,000. KLP Kapitalforvaltning AS bought a new stake in IonQ during the 4th quarter worth approximately $1,616,000. LPL Financial LLC increased its position in IonQ by 9.1% in the 4th quarter. LPL Financial LLC now owns 131,846 shares of the company's stock valued at $5,507,000 after acquiring an additional 10,982 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of IonQ by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 21,374,125 shares of the company's stock valued at $892,797,000 after acquiring an additional 125,144 shares during the last quarter. Institutional investors own 41.42% of the company's stock.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service.